W&T Offshore (NYSE:WTI) Trading Down 9.8% on Disappointing Earnings

Key Points

• Shares plunged 9.8% (trading as low as $3.43) after W&T reported a quarterly EPS loss of ($0.15) versus analysts' $0.02 estimate, even though revenue beat expectations at $150.02 million versus $138.41 million.
• The company declared a quarterly dividend of $0.01 per share (about a 1.1% annual yield), with an ex-dividend/record date of May 21 and a payment on May 28.
• Analyst coverage is mixed (average rating: "Hold"), while institutional investors—notably UBS and Goldman Sachs—have materially increased positions, leaving institutions with roughly 42.9% ownership.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s share price traded down 9.8% during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $3.43 and last traded at $3.4450. 1,716,079 shares were traded during trading, a decline of 74% from the average session volume of 6,617,572 shares. The stock had previously closed at $3.82.

The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). The firm had revenue of $150.02 million for the quarter, compared to analysts' expectations of $138.41 million.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.04 annualized dividend and a yield of 1.1%. W&T Offshore's dividend payout ratio is presently -3.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WTI. William Blair began coverage on shares of W&T Offshore in a research note on Friday, April 17th. They issued an "outperform" rating for the company. Zacks Research lowered shares of W&T Offshore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of W&T Offshore in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WTI. UBS Group AG boosted its holdings in W&T Offshore by 381.1% in the fourth quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company's stock valued at $3,912,000 after acquiring an additional 1,901,213 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in W&T Offshore by 115.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,666,494 shares of the oil and gas company's stock valued at $2,716,000 after buying an additional 894,221 shares during the period. Millennium Management LLC raised its position in shares of W&T Offshore by 33.9% in the 3rd quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company's stock worth $4,660,000 after purchasing an additional 647,596 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of W&T Offshore by 25.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company's stock worth $4,141,000 after purchasing an additional 508,050 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of W&T Offshore in the 3rd quarter worth about $853,000. Institutional investors own 42.88% of the company's stock.

W&T Offshore Trading Down 5.9%

The firm has a fifty day moving average of $3.23 and a 200 day moving average of $2.40. The company has a market capitalization of $535.01 million, a P/E ratio of -3.57 and a beta of 0.29.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.

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